Wells Fargo & Company Lowers Elastic (NYSE:ESTC) Price Target to $60.00

Elastic (NYSE:ESTC) had its target price lowered by Wells Fargo & Company from $75.00 to $60.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 15.00% from the company’s current price.

Several other research firms have also recently issued reports on ESTC. Scotiabank cut their price objective on Elastic from $90.00 to $76.00 and set a “sector perform” rating for the company in a research report on Friday, November 21st. Wedbush decreased their target price on shares of Elastic from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Truist Financial reduced their price objective on shares of Elastic from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Stifel Nicolaus lowered their target price on shares of Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Finally, TD Cowen reissued a “hold” rating on shares of Elastic in a research note on Monday. Seventeen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.21.

Elastic Stock Performance

NYSE ESTC traded down $9.41 on Friday, hitting $52.18. 4,695,872 shares of the company’s stock were exchanged, compared to its average volume of 1,999,048. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of -50.69, a P/E/G ratio of 235.94 and a beta of 0.93. The firm’s 50-day moving average price is $68.90 and its two-hundred day moving average price is $77.96. Elastic has a fifty-two week low of $49.90 and a fifty-two week high of $117.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97.

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 4,552 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $341,627.60. Following the completion of the transaction, the chief technology officer directly owned 4,359,228 shares in the company, valued at approximately $327,160,061.40. The trade was a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ken Exner sold 6,544 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $491,127.20. Following the sale, the insider owned 227,038 shares in the company, valued at $17,039,201.90. This trade represents a 2.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,828 shares of company stock worth $4,641,010 in the last three months. 12.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. AXQ Capital LP purchased a new position in shares of Elastic in the 2nd quarter worth about $419,000. Geode Capital Management LLC increased its position in Elastic by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock worth $132,384,000 after purchasing an additional 54,812 shares in the last quarter. Mackenzie Financial Corp raised its holdings in Elastic by 622.2% in the second quarter. Mackenzie Financial Corp now owns 77,005 shares of the company’s stock valued at $6,494,000 after buying an additional 66,342 shares during the period. Panagora Asset Management Inc. lifted its position in Elastic by 102.3% during the second quarter. Panagora Asset Management Inc. now owns 464,268 shares of the company’s stock valued at $39,152,000 after buying an additional 234,735 shares in the last quarter. Finally, Toronado Partners LLC grew its stake in Elastic by 12.8% during the second quarter. Toronado Partners LLC now owns 153,128 shares of the company’s stock worth $12,913,000 after buying an additional 17,393 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic News Summary

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Company issued stronger-than-expected forward guidance for Q4 FY2026 and FY2026 (EPS and revenue guidance well above consensus), which is bullish for future profitability and cash flow. Elastic Reports Third Quarter Fiscal 2026 Financial Results
• Positive Sentiment: Top-line strength: revenue of ~$450M (+18% YoY) and subscription revenue growth — management highlighted AI expansion and sales-led subscription gains, supporting the company’s growth story. Elastic NV (ESTC) Q3 2026 Earnings Call Highlights
• Neutral Sentiment: Several analyst notes: Oppenheimer and Barclays trimmed price targets (Oppenheimer $100?$85; Barclays $78?$76) but retained Outperform/Overweight ratings—still implying meaningful upside from current levels, though less than before. Benzinga
• Neutral Sentiment: Earnings call/transcripts are available for detail on margin drivers, AI product momentum and guidance assumptions — useful for investors who want to dig into the drivers behind management’s upbeat outlook. Elastic Q3 2026 Earnings Call Transcript
• Negative Sentiment: Mixed/weak EPS metrics: some outlets reported an EPS miss or GAAP loss for the quarter despite revenue strength — this disconnect between revenue and per?share earnings (and confusion around reported EPS) appears to have triggered selling pressure. Elastic earnings snapshot
• Negative Sentiment: Market reaction: several news outlets noted the stock tumbled after the print despite revenue beats — likely short?term profit-taking, focus on EPS/GAAP metrics, and reduced near?term analyst upside after PT cuts. Elastic shares tumble despite beating third quarter estimates

About Elastic

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.